Past year: ▲ 68%(65.0c – 1.20 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Feb 2018resource reserve update● Neutral
The Cusi technical report itself, prepared by SRK Consulting with an effective date of 31 August 2017. It is the second amendment to a report first issued in April 2017 and amended again in June, so the mine's resource statement has been restated twice in ten months.
13 Feb 2018resource reserve update● Neutral
Filed the Cusi technical report behind the December resource increase, confirming no material differences from the announced figures.
7 Feb 2018drilling result▲ GoodMajor
The widest copper intercept in the company's history: 99 metres at 1.48% copper, 12 g/t silver and 0.7 g/t gold at Cuye, part of a 120-metre run in hole 13 that began with 21 metres of polymetallic ore. Fourteen holes are now complete from the 1070 level, and the mineralised dioritic intrusive is being treated as a new and potentially much larger target than the vein-style ore Yauricocha has always mined.
19 Jan 2018production update● NeutralMajor
2017 output was 14.9 million silver-equivalent ounces, up 26%, from 2.0 million tonnes processed across Yauricocha, Bolivar and Cusi - but copper-equivalent production fell 1% and zinc-equivalent 9%, so the headline gain is largely a silver-equivalent effect. The release also revises the Yauricocha capital spending profile down from what the recently filed technical report assumed.
8 Jan 2018resource reserve update▲ Good
The 29 December 2017 Cusi resource increase - measured and indicated up 129% to 4,557,000 tonnes, inferred up 36% to 1,633,000 tonnes - filed again under a separate accession number. Same content as the row of 2 January 2018.
2 Jan 2018resource reserve update▲ GoodMajor
Cusi's measured and indicated resources rose 129% to 4,557,000 tonnes - 362,000 measured at 225 g/t silver and 4,195,000 indicated at 217 g/t silver - with inferred up 36% to 1,633,000 tonnes at 158 g/t. The company states the increase reflects both new drilling around San Nicolas and Promontorio and a change to a silver-equivalent cut-off grade, so part of the gain is a change in how ounces are counted.
19 Dec 2017drilling result▲ Good
Eleven holes from the 1070 level at Cuye defined copper sulphide widths over 45 metres, still open at depth, with hole 10 cutting more than 75 metres of continuous mineralisation - 15 metres polymetallic then 44 metres of copper sulphide. Low-grade disseminated copper in the dioritic intrusive is flagged as an entirely new target type at Yauricocha.
13 Nov 2017resource reserve update● Neutral
Filed the Yauricocha technical report supporting both the September resource increase and the October reserve increase, stating there are no material differences from what was announced.
13 Nov 2017resource reserve update● Neutral
The Yauricocha technical report as filed, documenting the 13.2 million tonne resource and 8.9 million tonne reserve announced in September and October 2017 - the estimate that took the mine from a small operation to one with more than a decade of reserves.
30 Oct 2017resource reserve update▲ Good
The same Yauricocha reserve announcement of 26 October 2017 - 8,917,000 tonnes at 48.3 g/t silver, 1.2% copper, 2.4% zinc, a 134% tonnage increase - filed a second time under a separate accession number. No new information; the corpus holds it as two rows because each filing gets its own.
27 Oct 2017resource reserve update▲ GoodMajor
Yauricocha's reserves more than doubled: 8,917,000 tonnes at 48.3 g/t silver, 1.2% copper, 0.8% lead, 2.4% zinc and 0.5 g/t gold, a 134% tonnage increase on the August 2016 estimate and, at current throughput, more than double the mine life. Contained copper is up 237%, partly from the new Cuye, Mascota and Esperanza zones and partly from a 14% higher copper price assumption. It follows through from September's resource increase and excludes the October Cuye holes, which came in after the cut-off.
4 Oct 2017drilling result▲ GoodMajor
The first four holes testing targets from a Titan 24 geophysical survey at Bolivar hit copper in three zones not previously known to be mineralised: 3.10% copper-equivalent over 25 metres in DB17B602 and 3.03% over 29 metres in DB17B613. Twenty-two priority targets were identified and the top eight are being drilled, pointing to a northward extension of the mine.
2 Oct 2017drilling result▲ Good
Wide intercepts at Yauricocha's Cuye zone: 49.0 metres averaging 1.34% copper, 4.75% zinc and 41 g/t silver in CUY 17-17-02, and 39.6 metres at 1.51% copper, 2.46% zinc and 1.64 g/t gold in CUY 17-17-04, with a 6-metre section running 21.66% zinc. The drilling suggests Cuye and Catas merge at depth into a single larger zone.
29 Sept 2017resource reserve update▲ GoodMajor
A step change at Yauricocha: measured and indicated resources rose 68% by tonnage to 13,206,000 tonnes at 62.3 g/t silver, 1.5% copper, 0.9% lead, 2.8% zinc and 0.6 g/t gold, with contained copper up 128% and silver up 72%; inferred rose 77% to 6,632,000 tonnes. Part of the copper gain is real - new copper-rich zones at Cuye, Mascota and Esperanza - and part is a 14% higher copper price assumption, which the release states.
28 Sept 2017material agreement▲ Good
Signed a memorandum of understanding with China's Jinchuan Group over the Bahuerachi copper porphyry project, whose concessions adjoin Sierra's Bolivar mine in Chihuahua. Nothing is committed - it formalises an intention to cooperate on developing a deposit Jinchuan has held since buying Tyler Resources in 2008.
5 Sept 2017drilling result▲ GoodMajor
Twenty-eight holes for 12,300 metres at Bolivar West averaged 2.55% copper-equivalent over 9.1 metres true width, which the company says is well above both the current resource grade and the grade actually being fed to the mill. Individual holes ran to 8.05% copper-equivalent over 17.6 metres, and the zone is still open to the northeast.
29 Aug 2017drilling progress report▲ Good
Second phase of drilling at the Santa Rosa de Lima zone of the Cusi silver mine - 22 holes for 14,000 metres, 29,500 metres on the zone in total - averaging 343 g/t silver-equivalent over 3.62 metres true width, with step-outs extending mineralisation from 1.0 to 1.7 kilometres along a 12-kilometre structure. The data goes into a new Cusi resource by year end.
24 Aug 2017drilling result▲ GoodMajor
New Escondida zone found at the Cachi-Cachi area of Yauricocha, described as the largest orebody yet found there, with over 300 metres of strike and skarn mineralisation over 30 metres wide. Best intercepts are zinc-rich: 11.69% zinc over 5.5 metres in ESC 17-09 and 5.05% zinc over 30.2 metres in ESC 17-10. It extends the mine footprint towards Esperanza and is close enough to existing workings to add resources quickly.
6 July 2017listing compliance notice▲ Good
Added a third listing, on the NYSE MKT under SMTS from 11 July 2017, alongside Toronto and Lima. Management frames it as improving liquidity and reaching US institutions; the company was then producing from Yauricocha in Peru and Bolivar and Cusi in Mexico.
